The Buyers’ pressure is equally low; that is why there is a sluggish movement in the market of ACB. ACB price requires strong bullish momentum in order to rally to the north side.
Resistance levels: $8.0, $8.4, $9.0
Support levels: $7.4, $6.8, $6.1
ACB Medium-term Trend: Bearish
ACB price remains bearish in the medium-term outlook. The sellers’ momentum became weak after it touched the support level of $7.4. The price could not break down that demand level. The Buyers’ pressure is equally low; that is why there is a sluggish movement in the market of ACB. ACB price requires strong bullish momentum in order to rally to the north side.
As at the moment, the Bulls are gradually increasing their momentum in the ACB market. Further increase in the Bulls’ pressure may push up the price to reach $8.0 level. Meanwhile the Stochastic Oscillator period 14 is at $25 level with the signal line pointing up to indicate a buy signal.
ACB Short-term Trend: Ranging
ACB is ranging in the short-term outlook. On June 14, the ACB price reached the support level of $7.4 and the bearish momentum was lost. The Bulls equally have no pressure to push up the price. This is what caused the sideways movement in the ACB market.
The 21 periods EMA and 50 periods EMA are tightly close to each other as a symbol of low momentum. The Stochastic Oscillator period 14 is at 75 levels with the signal lines pointing down to indicate sell signal.
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